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China's oil giants to invest over $14bn in renewables by 2025

Sinopec, CNOOC and PetroChina diversify operations amid decarbonization push

Sinopec aims to have 1,000 hydrogen stations by the end of 2025. (Photo from Sinopec's social media feed)

HONG KONG -- China's three state-owned energy majors plan to invest a combined 100 billion yuan ($14.5 billion) or more in renewable energy through 2025, diversifying their business as Beijing pushes to achieve net-zero carbon dioxide emissions by 2060.

"We want to become China's top player in hydrogen," China Petroleum and Chemical Chairman Ma Yongsheng told reporters in Hong Kong on March 27.

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